Ripple XRP is trying hard to get out of the strong resistance level of $0.45 – $0.46 USD. It is trading at this price from the last 7 days. The price of XRP at the time of writing this post is $0.457347 USD (-0.03%).
Ripple XRP News
The renowned cryptocurrency project, the Ripple Foundation has released its quarterly report of 2018. This is the Q3, that is, the third quarterly report of 2018. Ripple has shown exponential progress in the third quarter following its streak of growth.
The crypto firm sold over $165 million in Ripple (XRP), confronting all the rise of volatility in this third quarter. The cryptocurrency foundation released over 3 billion in XRP from its escrow account. But over 2.6 billion in XRP was returned back to those account.
Ripple XRP/USD Price Analysis
XRP has gone below the daily Exponential Moving Average (10) and Simple Moving Average (10). The Ichimoku Cloud Base Line (9, 26, 52, 26) is 0.46362 which is in between the selling and buying zone.
Also, the Hull Moving Average (9) is 0.46165 recommending towards the sell zone. So after looking at the daily moving averages, the Ripple XRP seems to have a massive selling pressure.
If the price of Ripple further moves in downwards direction then there are chances that it will go below $0.40. Traders are requested to have a new buy setup when the price reaches $0.50 level.
Ripple XRP Price Chart by Binance
Let’s have a look at the Oscillators to have a better understanding of the trends. The daily Relative Strength Index (14) is 49.14444 and is between the selling and buying zone. The daily MACD Level (12, 27) for XRP is 0.00090 and is too in the selling zone.
The daily Williams Percent Range (14) is -51.88516 and is in the neutral zone. So, after looking at the Moving averages and Oscillators Ripple is supposed to move downwards.
Conclusion
After looking at the moving averages and oscillators Ripple XRP seems to go in the downwards direction in the coming days. If the price goes below the $0.40 mark then it might further drop to $0.37. In case of upward movement set up a new buy order at$0.50
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.